Under the rules announced on Thursday, consumers must be given a notice that explains the card policies, including fees. Without express permission from the consumer, the card issuer cannot charge for overdrafts at retail stores or A.T.M.’s The disclosures are required to be made in simple and easy to understand notices that customers should soon be receiving.
The rules are aimed at reducing fees for more ordinary purchases, such as at bookstores or coffee shops, where the overdraft fee could be significantly larger than the purchase itself.
